Huize Holding Limited

Ladies and gentlemen, thank you for standing by and welcome to the Hoytze's second half and full year 2025 earnings conference call. At this time, all participants are in listen-only mode. After the management's prepared remarks, we will have a question and answer session. Today's conference call is being recorded and the webcast replay will be available on Hoytze's IR website at ir.hoytze.com under the events and webcasts section. I'd now like to hand the conference over to your speaker host today, Mr. Kenny Lau, Hoytus Investor Relations Director. Please go ahead, Kenny.

Thank you, operator. Hello, everyone, and welcome to our second half and third year 2025 earnings conference call. Our financial and operational results were released earlier today and are currently now available on both our IR website and Globe Newswire services. Before we continue, I'd like to refer you to a safe harbor statement in our earnings press release. which also applies to this call as we will be making forward-looking statements. Please also note that we will discuss non-GAAP measures today, which are more properly explained in our earnings release and filings with ERDC. Joining us today are our founder and CEO, Mr. Chen Jun Ma, co-CEO, Mr. Ming Han Xiao, and co-CEO, Mr. Ron Tan. Mr. Ma will start the call by providing an overview of the company's performance and operational highlights, both by Mr. Tan, who will go over our financial results for the year 2025. Then we'll open the call for questions. Now I'll turn the call over to Mr. Ma.

Hello, everyone. Welcome to the next half of the year and the year-round performance conference. In 2025, China's insurance industry has undergone profound structural changes. With the continued decline in bank deposits, the financial distribution logic of residents has undergone a fundamental change. The capital is accelerating the transfer of long-term stable assets such as insurance. Dividend insurance, with its double property that guarantees and increases value, is the core element that drives the growth of the industry. At the technological level, the technology of the production room IR and the IR intelligent body is rapidly taking over. It is deepening the insurance industry and the mode of life, ecology and operation, pushing the industry towards a more intelligent and efficient direction. Welcome to the second half and full year of 2025 earnings conference call.